KLEMENTI

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.2001



Consolidated, unaudited

in thousand EEK



ASSETS                                     30.06.01  31.12.00



CURRENT ASSETS

1.Cash and bank                               4,417     3,064

2.Customer receivables                       13,218    14,349

3.Other receivables and

accrued income                                1,031     1,621

4.Prepaid expenses                            2,160     1,114

5.Inventories                                35,695    25,727

5.1.Raw materials                             6,911     5,071

5.2.Work-in-progress                         10,858     5,673

5.3.Finished goods                           14,462    13,708

5.4.Merchandise purchased for resale          2,784       842

5.5.Prepayments to suppliers                    680       433

TOTAL CURRENT ASSETS                         56,521    45,875

NON-CURRENT ASSETS

6.Long-term financial assets                  2,837     2,801

7.Tangible assets                            48,625    47,630

7.1.Land and buildings                       37,022    35,928

7.2.Plant and equipment                      24,697    23,561

7.3.Other inventory                           8,044     7,191

7.4.Accumulated depreciation                -21,855   -19,690

7.5.Fixed assets under construction             717       640

8.Intangible assets                             718       969

Total non-current assets                     52,180    51,400

TOTAL ASSETS                                108,701    97,275



LIABILITIES AND OWNERS' EQUITY

LIABILITIES

CURRENT LIABILITIES

9.Debt obligations                           34,645    21,646

10.Supplier payables                          8,149     5,138

11.Other payables                               731         0

12.Tax liabilities                            1,822     2,581

13.Accrued expenses                           1,995     2,869

14.Other prepaid revenue                         12        12

15.Current provisions                             6         0

Total current liabilities                    47,360    32,246

Non-current liabilities

16.Long-term debt obligations                18,787    17,996

17.Non-current provisions                        68        68

Total non-current liabilities                18,855    18,064

TOTAL LIABILITIES                            66,215    50,310



OWNERS' EQUITY

18.Share capital                             35,250    35,250

19.Capital surplus                            3,774     3,774

20.Revaluation reserve                          816       816

21.Other restricted reserves                    923       863

21.Retained earnings                          6,202     4,983

22.Net loss for the period                   -4,479     1,279

Total owners' equity                         42,486    46,965

TOTAL LIABILITIES AND OWNERS' EQUITY        108,701    97,275





Airi Kamratov

Chief Accountant

+372 6 710 718